Spokaneman

I'm juat back from a two week trip to Maui and the BI.

My kids wanted to do several activities on the BI so we wandered into an activity shop. The activities were about half price if you agree attend the time share presentation.

I checked around and there was no way to get the activities at prices close to the Time share discount so to save about $500 I signed up.

Before I went to the time share presentation, I walked into a timeshare resale office and inquired as to the resale price of the timeshare units I would be viewing. They gave me a cost that was about half of retail. The also gave me a pretty good idea of what I would be shown at the presentation.

Anyway, at the timeshare presentation, I quickly told the salesman that I was not prepared to commit $35,000 up front and $100/month for "maintenance" for a one week stay in any resort. I explained that the interest earned on the $35K plus the maintence fee would be more than enough to pay for a nice condo for a week without making any long term committments. I also explained that the resale value of the units was about 1/2 the retail price so you were severely upside down day one.

The guy got fairly hostile (as much as he could be in a room full of people) and informed that I was not a proper candidate for the program. At that point, we agreed to disagree and I left (in record time I was told).

Anyway, to me the bit of inconvenience was worth the $$ saved, but I am curious as to others experience.

SimoneSassett

My husband has no problem saying NO. So, we actually take advantage of deals like that to local destinations. Why not? I have learned from my husband that you should "never" argue with the pitchguy, because that usually keeps you there longer. If you never talk and just keep quiet, they realize they won't get anywhere, and you'll be excused after 15 minutes. We, too, agree that timeshares are just not worth it for us.

lvk

LOL, good for you!

I've posted on another thread today re: timeshare. In Cabo, we actually had the timeshare salesman grab his literature out of our hands and walk out on us! He said my DH was too cynical This, after the girl who was touring us showed us a poster of Neuschwanstein Castle in Germany and told us it was one of their exchange properties! (This was extra funny, since DH grew up in Bavaria, and knew it wasn't true) What a bunch of twits!

Spokaneman

I've read in Mexico they can come very close to holding you hostage. I read this on a report for the Myan Palace hotel. I would be more careful about attending one of these outside the good old USofA.

John

I'm sure ALL will not agree but in my mind , time shares equal poor investment boarding on rip off!

Spokaneman

According to the salesman, 3 in 10 who take the tour wind up buying. Surprising to me, but I have no reason to doubt it.

It would be interesting to know how many who buy still consider it a good investment after three years.

I also bet a bunch of people who sign the papers exercise the right of recission within the allowed 7 dayn period.

Patrick

I wouldn't put my money into time share for anything (and I won't even use the oxymoron term "invest" when referring to timeshares). But here are a couple possible comments to make to discourage the sales pitch:

1) Gee, it all sounds great, but since we're going into bankruptcy court right now, I doubt if they'd let us do it.

2) Give me all the details on paper so I can show my investment counselor and see if he thinks it's a good investment.

3)

Patrick

Sorry, I guess I hit the post button.

3) Since you are certain it is a good investment, I guess you give us a written guarantee to buy it back at the full cost we paid within two years. Since you know it is going to increase in value, you will obviously be making a lot of money.

4) You say the main advantage is being able to trade it to visit nearly any place else in the world. What kind of written guarantee is there that all those other places will be available when we want them?

TC

After 12 years, I still think our timeshare is wonderful.

First - it didn't cost us anywhere near $35,000 and I don't pay a maintenance fee for anything other than what I use. After carefully doing all the math (on a continuing basis), figuring the initial investment + maintenance, our one-bedroom, ocean front condo in Cozumel cost us less than $100 per night. We have a huge property with a full kitchen, dining, living, king bedroom, dressing room, and bath. We have daily maid service and all the on sight amenities (dive shop, restaurants, pools, massage, etc.). I have a month any time of the year that I pick on a "flex-time" plan - not locked into one specific week/month. I can use the condo, sell the time, bank the time or give it away. We always go in February with no hassels. The property has been well maintained and upgrades are made on a regular basis. The staff is cheerful and friendly, without much turnover.

Call me lucky, but I'm happy.

maryann

About 15 yrs ago, my GF bought from an owner-no sales office !!, and we have been happy to go with her most of the years to trade inColorado, Nevada, Hilton Head, etc., never went out of the US, just because we didn't want to. And the place she owns in Ft.Myers Beach is great- Maint. is about $500 per year for direct oceanfront-full kitchen-2 baths- Love it !

Just buy from an owner-much better deal.

Mariann

I use to think timeshares were a rip off but after having several friends who loved them we thought we would look into it during one of our trips to Maui. We were spending on average a night between $550 to $650 a night for a nice ocean front property (Maui is expensive). We ended up investing in two properties, an oceanfront (all water views)in Maui which we love using and another property in Oahu that was a great price on the resale market which we use only for trades (Hawaii gets great trades, we bought the most inexpensive place with the lowest maintenance - for trades). The latter we have had fantastic trades including the Marriot in Vail, Co. Westgate in Park City, UT, a three bedroom private villa with our own private pool in Portugal amongst other places. I've kept a spread sheet of our original purchase, I add the annual maintennace fees every year and I deduct the cost of what we would be paying if we were to rent a place for vacation. I have made my money back several times over with the condo we trade with (our cost was originaly $4,500) while we are pretty close to making our intial investment back for our Maui oceanfront property. What normally would cost us between $4,000 to $5,000 a week if we were to rent now is only about $650 a week (maintenance fees). We own the properties for the rest of our lives (can even will to the kids) and will actual get something back when we want to sell it.

I'm not saying that timeshares are for everyone. If you only have one or two weeks a year off, not much flexibility with dates and never like to go to the same place twice - it's not a smart investment. There are many properties that aren't the best investment (I think some are too high). But for us, it had worked out wonderfully, we have had fantastic vacations and we absolutely have saved money so, yes, it has been a great investment.

Unfortunately many timeshare salesman can be really unethical, particularly in Mexico. I mean the girl saying Neuschwanstein was one of their properties, give me a break - that's outragous. Maybe she was refering to Disney's timeshares and since Disney's trademark castle was originally depicted from Neuschwanstein she was confused. You think? (joke). Unfortunately, you really need to research before you make an investment because there are a lot people who prey on the unknowing. At the Mayan Palace they started out by trying to sell us four timeshares at $200,000 telling us it was a great investment because we could rent them out and make money, ha! By the time we left the presentation they were pratically offering them to us for free for just making the commitment of the maintenance fees. Their properties are beautiful but I would never invest with them. You just have to be careful where you invest and who you choose to deal with.

juanita1989

We bought at the Marriott Ko'Olina last year and, although we could have saved about $10K if we'd waited a year for a resale to come up, we don't regret it a bit. We were able to trade it for the Maui Marriott last year to go with a group of friends on their trip, and we're scheduled to occupy our Ko'Olina property this week. We also own 2 weeks at another resort in Cabo San Lucas.

But I think the best thing about being owners, at least for my husband and I, is that it FORCES my husband to take time off from his high-stress job 2-3 weeks a year and RELAX! Otherwise I'd keep suggesting we go on vacation and he'd keep saying yes, but now's not a good time, etc. With the TS, we know we have to vacation!

Carley

We own 3 weeks of timeshares in Canada (we are Canadian) and since they are lockoff actually can make use of 6 weeks if we wish. We have traded to California, Arizona, Cancun, Puerto Vallarta, Kauai, BI and our own property near Toronto. We feel it has been a great investment for us as we love to travel and since we are paying all our costs in Canadian $ and trading to the US it makes so much sense for us as. It really hit home to us when we travelled to California one year and had to stay in a hotel for a week. We had one room, one TV one bathroom and nothing else. When we got to our timeshare near San Diego we had a huge villa with 2 bedrooms, 2 bathroom, washer/dryer, great kitchen. We feel we can have more vacations since we do some of our own cooking which saves money. For us the timeshare works and we have no regrets. In fact our kids have asked for our timeshare in our wills rather than anything else. We are all going to our timeshare next week and we will have two one bedroom units so lots of space and room for everyone. We are very happy but realize it is not for everyone.

Mr_Naomi

I own two weeks at Marriott's Maui Ocean Club and two additional weeks at another Marriott resort in Palm Springs. I use my time every year in Maui and usually use the other weeks for exchanges in Mexico, Hawaii & the Caribbean. While the property in Maui wasn't cheap, I'm more than happy to pay the $125 per night maintenance fee (1 bedroom, oceanfront) instead of the outrageous prices the resort is commanding for non-owners. Additionally, the nightly rates for quality hotels & resorts are constantly going up at a much higher percentage than my maintenance fees. With my yearly savings over non-owner resort prices, I'm sure I'll re-coop my investment and then some, before I check out (hopefully). If not, these timeshares are deeded and will be passed on to my heirs for their enjoyment.

Vicky

I LOVE hotels, cannot even imagine staying at the same place year after year or even trading and having to cook, clean, etc. It would never be worth it to me to sit thru a presentation no matter what the discount or incentive - my time is much too valuable. I have no trouble saying no, but I have a very low threshhold for annoyance.

Leona

I have no interest in timeshares. But I'm wondering why, Spokaneman, you attended a presentation in order to reap the rewards, and then became confrontational with the sales person who was doing his job. You knew going in you had no interest in buying - why not simply listen to what he had to say & politely decline? They probably get more people who want the giveaway than interested parties, and their time is worth something too.

TC

Vicky, You say, "I LOVE hotels, cannot even imagine staying at the same place year after year or even trading and having to cook, clean,"

"cook, clean"!....No way! I don't do any of those things at our condo. There is a maid who comes just as often to my condo as one does to your hotel room. I don't cook, but it sure is nice to have a frig and microwave for drinks and snacks or breakfast. And IF I do use the kitchen, the maid cleans it. I can phone room service, have a massage, consult the concierge. I'm not saying that timeshare is for you...or anyone else for that matter. Just wanted to clarify your incorrect perception of a timeshare condo.

I can lay on the beach and be just as pampered as any hotel guest. Its just that for the same price as your one hotel room, I have a full kitchen, dining room, living room big enough to seat 12, king size bedroom with walk-in closet, separate dressing room and bath -- plus an ocean view balcony with a dining table and lounge chairs that is so close to the ocean I could fish from my balcony. All that for less than $100 per night.

Spokaneman

Actually, I wasn't confrontational, I presented him with a well reasoned reason for not being interested and he became confrontational.

Once you throw them out of thier sales routine they are very perplexed as to how to deal with you.

travelinfamily

It is true, timeshare is not for everyone, we decided that it was for us, we just bought one in the Bahamas and already have a trip booked for Maui in January. Our incentive is the fact that it is a condo, with seperate bedrooms. We have an almost 5 year old and on our last vacation it really was a bummer to go to bed at 8:30-9:00 p.m. because she did, we couldn't watch t.v. or talk or have the lights on. We got a lot of rest, but wasn't really what we wanted. Now with the condo, she can go to bed and we don't have to, plus we have the fridge for her milk and breakfast. It will be a plus for us I know, we are looking forward to going on trips with friends and family (keeps it affordable for them too). We bought a two bedroom and it can sleep up to 8 people if you were so inclined. And because we are using a one bedroom in Maui we actually get an extra week, where ever. I am happy with our decision, I am glad to hear others are as well.

Mariann

Absolutely TC. The other thing Vicki is that many timeshares are part of hotel properties like the Marriot, Hilton, Four Seasons, Sheraton...just to name a few. You get all the same amenities that hotel guests get. Mine has all the amenities because it is a hotel too, I get room service, maid service, fresh daily towels (yes, they even put the little shampoo bottles, lotion in the baths), massages, restaraunts, on-site activites, ocean activities. If you want laundry service, they'll do that but why bother when you may have a washer & dyer in your place? I believe your timeshare is also loaded with amenities too T.C. I remember you or another poster talking about how you can get a massage and watch your kids snorkel in the ocean at the same time. It's great, it's like staying in the luxury suite at a hotel. Not that all timeshares are 5 star hotels, some are not, but there are many that are. Having the extra room to relax in just adds to my vacation and makes me feel more pampered. Some people may like to cook on vacation but I don't, I'd say 95% of the time I eat in restaurants, while the other times it's just convenient food in the condo which is so nice to have the option - particualry with kids. For instance, sometimes I find it so relaxing to just have a bagel and coffee in the morning and sit out on my lanai over the ocean in my P.J.s - not having to get dressed and comb my hair in order to go downstairs to the restaurant to eat. Now that's relaxation.

Another thing that I have enjoyed with timeshare ownership is the usual once a week "party" that they throw the timeshare owners. It is so much fun talking to other people and their experiences with trades, ect.. it's kind of like a club.

My daughter's teacher is staying on a canal boat for a week in the English countryside this August which she had gotten through her friend's trade of her timeshare. I can't wait to hear about it.

There is a bit of a misconception sometimes about timeshares. They definetly are not for everyone but for the right person it can be a good fit.